Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0379%/8h= −41.5% APRpaid last 24h −0.031%

Price spread now: Binance against Pacifica+0.022%7-day average +0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$240.240% of the position

Long on Pacifica Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.117%−$12 on $10k

Price spread, last 2 days (all we have)+0.023%+$2 · spread now +0.022%, 7d avg +0.021%

Together, before fees−0.094%+ Points / potential airdropPacifica: Active · farm board−$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.021%, so right now this pair is about funding alone: −$11 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.117% in total (about -6.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica CL	92.660	0.0100	pay 0.0013% / 1h	15m 09s	$357K	$602K	10x
Short	Binance CLUSDT	92.680	−0.0279	pay 0.0139% / 4h	3h 15m	$245.0M	$1.03B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Pacifica. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee PacificabpFee BinancebpOrdersPrice spread, now +0.022%Rate

Funding earned: −$79.56
Price spread: +0.022% → +0.021%: $0.08
Slippage, 4 orders: −$5.96
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$103.43
Costs to cover: 0.240%
Break-even: never at this rate

Slippage from Pacifica: live order book, 59 min ago; Binance: live order book, 14 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Pacifica live order book, 59 min ago	0.05 bp	6.6 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 14 min ago	0.54 bp	5.5 bp −$6	5.7 bp −$57	8.8 bp −$882	23.1 bp −$11.6K

CL on 36 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT CL_USDT_Perp	−0.0364%	4h	92.590	−0.075%	$58K	$693K	25x	as long as short
Aster CLUSD1	−0.0334%	4h	92.684	+0.026%	$24.0M	$75.9M	20x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0289%	1h	92.660	0.000%	$123K	$275K	15x	as long as short
Binance CLUSDTshort	−0.0279%	4h	92.680	+0.022%	$245.0M	$1.03B	100x
Variational Omni CL	−0.0271%	4h	92.631	−0.032%	$13.3M	$11.4M	—	as long as short
Gate CL_USDT	−0.0217%	8h	92.600	−0.065%	$21.3M	$55.4M	100x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0120%	1h	92.698	+0.041%	$275K	$915K	25x	as long as short
Nado WTI-PERP	−0.0054%	1h	92.719	+0.064%	$934K	$708K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0052%	1h	92.630	−0.032%	$3.6M	$5.9M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.030	−0.680%	$399K	$957K	15x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CL-USD	−0.0040%	1h	92.650	−0.011%	$2.4M	$1.7M	10x	as long as short
tradeXYZ xyz:CL	−0.0031%	1h	92.669	+0.010%	$186.5M	$236.8M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.666	+0.006%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.694	+0.037%	$26.6M	$89.7M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.640	−0.021%	$43.0M	$108.6M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.787	+0.137%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.662	+0.002%	$42.2M	$48.8M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.690	+0.033%	$37K	$66K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.670	+0.011%	$19K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.235	−0.459%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0002%	8h	92.637	−0.024%	$15K	$367	5x	as long as short
Lighter WTI	+0.0016%	1h	92.677	+0.018%	$11.2M	$10.2M	20x	as long as short
Extended WTI-USD	+0.0024%	1h	92.710	+0.054%	$2.3M	$26.1M	10x	as long as short
edgeX CLUSDC	+0.0029%	4h	92.605	−0.060%	$532K	$300K	30x	as long as short
StandX CL-USD	+0.0040%	1h	92.390	−0.291%	$723K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.690	+0.033%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.676	+0.017%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.670	+0.011%	$2.0M	$38K	20x	as long as short
KuCoin CLUSDTM	+0.0088%	4h	92.681	+0.023%	$7.2M	$2.4M	50x	as long as short
Pacifica CLlong	+0.0100%	1h	92.660	long leg	$357K	$602K	10x
ApeX Omni CLUSDT	+0.0100%	1h	92.620	−0.043%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.632	−0.030%	$4K	—	10x	as long as short
Aftermath Perps WTIUSD	+0.0174%	1h	92.634	−0.028%	$2K	$28K	5x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0206% / S −0.0131%	1h	92.665	+0.006%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.69	+9.745%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.650	−0.011%	$4.0M	$1.2M	50x	as long as short